Friday, November 3, 2023

SPX Update: Finally Bouncing from Target/Inflection Zone

Apparently it was "that simple" as SPX finally committed to bouncing solidly after capturing its downside target and inflection zone.  In fact, the bounce is now close to wave 1/4 overlap territory, which would suggest the bounce is either another 2nd wave or the ALL OF C bull option discussed on 10/26:

Next resistance is fast approaching (blue rising line), so we'll see if that zone can slow the bounce or not:

Not much to add beyond that.  Trade safe.

No comments:

Post a Comment